Healthcare Industry News: NuVasive
News Release - January 9, 2007
RSB SPINE Announces Buy-Back of Right of First Refusal From NuVasive, Inc.
CLEVELAND, Jan. 9 (HSMN NewsFeed) -- RSB SPINE, LLC (RSB) today announced the repurchase of a right of first refusal for its InterPlate(TM) spine implant platform from NuVasive, Inc. The right of first refusal was included in the sale of RSB's SmartPlate(TM) cervical plate technology to NuVasive in June 2005.John Redmond, president and CEO of RSB, stated, "We believe the InterPlate platform will be more attractive to parties potentially interested in acquiring the technology now that this hurdle has been removed. The right of first refusal limited our flexibility in structuring commercialization agreements." NuVasive retains the right of first refusal for other RSB technologies.
RSB SPINE, LLC is a privately owned spinal implant development company located in Cleveland, Ohio. The InterPlate was approved by the U.S. Food and Drug Administration as a vertebral body replacement/partial vertebral body in August 2006. Variations of the device for other indications are under development.
Source: RSB SPINE
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